News on the latest developments effecting the property markets in Chandigarh, Mohali, Mullanpur and Panchkula in India.

Friday, December 18, 2009

One-kanal plot fetches Rs 4 cr in auction

n the auction of residential sites on Wednesday, plots fetched a much higher price compared to the last auction in October 2008.Of the 42 residential plots, 33 were auctioned. On Thursday, 89 commercial and 12 restaurant sites will be auctioned.

Maximum competition was seen in the 1 kanal and 10-marla categories of plots. These plots fetched nearly three times their reserve prices. Prices of 10-marla plots varied between Rs 2.03 crore and Rs 2.32 crore, and between Rs 3.60 crore to Rs 4.06 crore in case of 1 kanal plots.